Four businesses in Newry and South Armagh are set to invest nearly £2 million to enhance productivity and create 24 new jobs.
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Exciting news is coming out of Newry and South Armagh! Four local companies are gearing up to invest nearly £2 million to boost exports and create 24 new jobs. The businesses—Pronto Engineering, Sheaney, Versaffix, and Viltra—are tapping into this investment to ramp up productivity and sales not just in the Republic of Ireland, but across Britain and Europe.
This announcement was made by economy minister Dr. Caoimhe Archibald during her visit to Versaffix, a manufacturer located in Lislea.
Investment Details and Economic Impact
This collective investment of around £2 million is set to dramatically enhance the operational capabilities of these firms.
Dr. Archibald emphasized the vital role that small and medium-sized enterprises (SMEs) play in the economy, saying, “Access to financial support for these types of businesses is crucial.” Beyond creating jobs, this funding aims to drive sales and unlock new export opportunities.
Invest NI has been instrumental in this development, providing £191,700 in support for these investment projects. This funding is expected to contribute significantly to the local economic growth in the coming years. For instance, Versaffix plans to invest £701,000 and create eight new jobs, specifically targeting enhancements in their management team and production capabilities.
Company Profiles and Their Contributions
Versaffix, known for its innovative tiltrotators for excavators, is keen on expanding its market presence. Martin McMenamin, the business development manager, expressed that this investment will enable them to commercialize their products and extend their global reach: “We’re also investing in market development activities to help us grow sales in the Republic of Ireland and Great Britain.”
Meanwhile, Viltra, which specializes in wastewater treatment solutions, is investing £514,000 to strengthen its management and enhance production capacity, creating six new roles in the process. This initiative aims to boost exports to Ireland and France while allowing the company to take on larger projects. Pronto Engineering, based in Camlough, is also throwing in £462,000 to improve productivity, leading to the creation of six new jobs, particularly in the realm of complex industrial automation solutions.
And let’s not overlook Sheaney, which focuses on marine and civil engineering. They’re investing £270,000 to ramp up exports and add four new roles. Managing director Steven Heaney mentioned, “This investment will equip us to capitalize on opportunities in the Republic of Ireland, building on our existing contract in Dublin port.”
Future Prospects and Job Creation
The new roles being created will cover a range of areas, from software engineering to managerial positions. John McKibben, southern regional manager at Invest NI, reaffirmed their commitment to backing local businesses, stating, “We’ve worked closely with Pronto Engineering, Sheaney, Versaffix, and Viltra, supporting them to improve operational efficiencies and increase digitalization.”
This investment is a part of a larger initiative aimed at fostering economic resilience in the Newry, Mourne, and Down District Council area. Invest NI has committed nearly £8 million in support to over 130 companies in the region, driving an impressive total investment of £47 million and the creation of 289 new jobs. This aligns perfectly with the minister’s vision for regional balance.
